28,000 orders received in 4 days of launch, Xiaopeng G6 market explodes

Release Date : 2023-07-06
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On the evening of June 29th, Xiaopeng G6 was officially launched. With the G9 and P7i both failing and the share price hitting the bottom, Xiaopeng desperately needs a pop-up car to save itself. Is the G6, which has been on the market for 6 days, fulfilling its mission? Money deals never play tricks, and the share price and sales have given Xiaopeng the strongest positive feedback -
The G6 has really sold out in 4 days with 28,000 orders

The G6 has been selling well since the 9th, when more than 25,000 people paid 2,000 yuan in 72 hours after the pre-sale, and on the day of the launch on the 29th, He Xiaopeng said that 35,000 people had paid for the car. Recently, the first electric learned from relevant channels, as of July 3, the national order quantity of Xiaopeng G6 is about 28,000 units (non-refundable after 72 hours of deposit payment or after the vehicle lock order).

Conversion rate, comprehensive first and second-tier cities to see, 20 intention gold customers, converted to the big order of customers in about 10-15, the overall conversion rate can reach 60%. First Electric understands that the number of large orders in Xiamen has exceeded 300 units.

In the first-tier cities that are more friendly to new energy vehicles, the order volume of a shop in Beijing has exceeded 300 units, and the sales staff said, "I have converted more than 20 units on my side", "In the shop, everyone has a steady dozen orders in their hands", and "The sales elite of our store, who have been working on the new energy vehicles, have been able to convert to large orders, "The sales elite in our shop has made more than 40 orders alone"; a staff member in Shanghai said "I've locked 6 orders here".

In terms of model configuration, whether in Beijing, Shanghai, Guangzhou, Chengdu, Wuhan or Xiamen, the best sellers are the 755Max version, followed by the 580Max, "the Pro and 4WD versions are also ordered, but relatively few," said a sales student.

In Shanghai, where the XNGP was launched on April 1, the sales student even said: "I have sold the Max version the most, they want the xnpg from Xiaopeng". It is clear that the Xiaopeng assisted driving is extremely attractive to users.

And, during the actual visit, First Electric found that, in addition to young people, there was no shortage of families and middle-aged and elderly users among the customers who took the initiative to visit the shop to see the car. After experiencing the G6, a group of family users said, "I am satisfied with the space in the back row"; another middle-aged and elderly couple also showed a strong interest in the P7i after learning about the G6.
The longest delivery time is scheduled to 17 weeks, and the first batch of locked-in customers will be able to pick up their cars within July

In terms of delivery lead time, which is of most concern to users, the current delivery time for ordering the G6 in the Xiaopeng App is shown as 10 weeks for the Pro version and 12 weeks for the Max version.
The G6 has been overwhelmingly popular and the pick-up time has been temporarily extended to avoid some hassle";

"Delivery will only be quick";

"Internal sources say that two more production lines may be opened".

First Electric understands from internal sources within Xiaopeng that the G6 delivery time will be around 10 weeks.
Share price soars 30%, what else will the G6 bring to Xiaopeng?

Xiaopeng's share price fell after the release of the G9 in September last year, and in March this year, when the highly-anticipated P7i was launched, Xiaopeng's share price only rose by 2.62% on its first day. In contrast, from June 9, when the G6 opened for pre-sale, to the 29th before its official launch, Xiaopeng's Hong Kong shares have risen by 36.43%, as evidenced by the market's expectations for the G6.

On the 29th, Xiaopeng's Hong Kong shares surged again after He Xiaopeng announced at the press conference that the G6 had dropped another 20,000 from its pre-sale price. From June 9 to July 3, Xiaopeng's Hong Kong stock rose 77.59%, and after hitting a "rock bottom" in early June, Xiaopeng rebounded on the strength of the G6's products and sales.

The G6 has "exploded", both in terms of share price and sales, but orders are just the beginning, delivery is the main event, the capital market is also sensitive to capacity: June 14, weekly delivery of 0.84 million ideal car, the share price rose 12%, July 3, the official announcement of the first monthly delivery of 30,000, the share price is 8.49% higher; Model 3 listed in the early days, facing delivery difficulties Tesla share price fell.

In March this year, after the P7i was launched, Xiaopeng had delayed the delivery of the P7i due to the lack of supply chain preparation (mainly batteries). In July, the G6 will be delivered, and the company's share price may see a second round of growth if it is able to solve its capacity problems.

In May, He Xiaopeng had confessed in the first quarter earnings call, "We will make it our primary strategic goal as a company to rapidly expand our sales and EV market share." The G6 is a shot in the arm that not only gets into the blood of Xiaopeng,

but also activates the "Peng Friendship Circle", giving investors more confidence, suppliers more certainty and dealers more confidence. The G6 is not only a shot in the arm for the company, but it also activates the "Peng Friendship Circle", giving investors more confidence, suppliers more certainty, and dealers more confidence.

With the delivery of the G6, sales of the entire Xiaopeng range will grow rapidly, with He expecting monthly deliveries to exceed 20,000 units in the fourth quarter of this year. The further improvement in vehicle scale will allow for a better way to spread and reduce Xiaopeng's R&D costs, which will have a positive impact on gross margins and ultimately help Xiaopeng achieve a positive profit turnaround by 2025.

Bullish on the G6 and bullish on Xiaopeng Auto.
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